Permanent Residency

The Cyprus PR program offers non-EU nationals guaranteed permanent residency within 2 months with a real estate investment of at least €300,000. Whether single property or more you secure permanent residency in Cyprus for you and your family.

Rethink your future

Exempt yourself and your family from immigration entry procedures

The Permanent Residency program offers your family the freedom to live, travel, and work freely in the EU. It provides access to excellent education and healthcare, or simply offers an insurance policy for an uncertain future.

Successful applicants now enjoy greater travel benefits within the EU Schengen Zone, facilitating business and leisure travel throughout Europe by allowing the applicant to apply for a Schengen Visa through any Schengen European Embassy.

EASY PROCESS

No language, medical exam or interview!

  • BUY PROPERTY

Of at least €300,000 (plus VAT) from licenced development company

  • SUBMIT APPLICATION

The applicant present is not obligatory and representative/lawyer can undertake paperwork.

  • 2 MONTHS TIME

To permanent residency.

  • GRANTED APPROVAL

Within a year the applicant needs personally collect permit card from Cyprus authorities.

  • VALID FOR LIFE

1 day every 2 years residency requirement.

Applies to entire family

Valid for life

Permission to form a company

No inheritance tax

Simple process

Issued within 2 months

All nationalities eligibility

1 day every 2 years residency requirement.

Why invest in Cyprus?

Discover an island of infinite beauty

Key factors that make Cyprus an attractive destination, is the highly specialized human capital, the reliable legislative and regulatory framework, the stable tax system, and the safety and stability conditions prevailing in the country. The island has developed through the years into a reputable international services hub due to its strategic geographical location and its role as a business bridge between Europe, Asia, and Africa.

euro zone

Eurozone member

Strategic location

Favorable tax regime

Low crime rate

Free public education

Legal framework

Well-developed infrastructure

Quality of life

INVESTMENT CRITERIA

The Applicant must invest at least €300,000 in one of the following investment categories:

  • Investment in residential real estate Purchase of a house or apartment from a development company, for a purchase price of at least €300,000 +VAT. The applicant may purchase up to two (2) residential units (apartments or houses), provided that their total purchase price meets the minimum requirement of €300,000 + VAT.
  • Purchase of other types of real estate such as offices, shops, hotels or related estate developments, or a combination thereof, with a total value of €300,000. These purchases may result from a resale.

QUALITY CRITERIA

The applicant should, in addition to the investment to prove that he has at his disposal a secure annual income of at least €50,000.

This annual income increases by €15,000 for his/her spouse and by €10,000 for each of his/her or his/her spouse’s dependent minor child. This income should derive from abroad and may include salaries or wages, pensions, dividends from shares, bank deposits interest, rents, etc., In calculating the total amount of income, the spouse’s income may also be taken into account.

The applicant and his spouse must submit a clean criminal record certificate from their country of residence or from the Republic in case they reside in Cyprus.

DEPENDENT PERSONS

The Immigration Permit is issued to the applicant and it covers as dependent persons his spouse and children under the age of 18.

Dependent children between the ages of 18 and 25, who proved that they are students of tertiary education abroad on the date of the submission of the application and who are financially dependent on the applicant, can submit their own, separate application with the payment of the relevant fee. In such a case the father or mother and/or both parents together must present an additional annual income of €10,000 for each such dependent child.

Children gained PR visa don’t lose it when they become 25 years old nor when they get married.

HIGHER VALUE INVESTMENT FOR ADULT CHILDREN

An Immigration Permit may also be granted to children of the applicant over the age of 18, who are not financially dependent on the applicant, on a higher value investment

The market value of the €300,000 investment should be multiplied by the number of adult children, who will invoke the same investment for the purpose of obtaining an Immigration Permit. For example, in case the applicant has one adult child he should make an investment worth €600,000, if he has two adult children the value of the investment should amount to €900,000 etc.

In such a case, each adult child will be able to prove that they have at their disposal a secured annual income of at least €€50,000, This amount increases by €15,000 for his/her spouse and by €10,000 for each dependent underage child.

REQUIRED DOCUMENTS:

  • Copy of valid passport of the applicant and his dependants.
  • Declaration of a secured annual income.
  • Documents proving that the capital used for the investment has been transferred to Cyprus from abroad (i.e. bank transfer).
  • Official Statements by the applicant and his/her spouse that they do not intent to undertake any sort of employment in Cyprus
  • Original Criminal Record Certificate for the applicant and his/her spouse, duly certified and officially translated (if the applicant resides abroad, the certificate must be issued from his/her country of residence).
  • Marriage Certificate duly certified and officially translated
  • Children’s Birth Certificates dully certified and officially translated
  • Curriculum Vitae.

We are pleased to confirm the availability of NEW Off Plan and ready build Properties in various locations in Cyprus that comply within the requirements under the policy provisions for Permanent Residence of the Ministry of Interior of the Republic of Cyprus. For any further assistance about the terms and conditions of Permanent Residence and an introduction about our properties available within the provisions of this policy, feel free to contact us.

Looking for professional advice? Contact us now.

For more information regarding the Permanent Residency program, please fill out the form.

Tel: +357 (26) 911050

E-mail: contact@pilidesdevelopers.com

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